How to Make Money with Bitcoin

12 Ways to Earn Cryptocurrency

A lot of people are into Bitcoin and Cryptocurrencies in order to make a quick buck. Today’s post is dedicated exclusively to ways you can make money with Bitcoin.

There are a number of ways that individuals can earn Bitcoin online. Unfortunately, just as in real life, there is no such thing as a free lunch. Any way of earning Bitcoin online will require something in exchange, whether it’s your time or your knowledge or your computer’s processing power.

Some of the methods outlined below will involve minimal effort but will also result in minimal returns. Other means of earning Bitcoin online may be more lucrative but they will require you to have a certain level of knowledge and expertise about the industry and the market. Therefore, although it may appear to some that Bitcoin, and Cryptocurrency in general, is an easy way to make money, it is not as easy as some might expect without the requisite knowledge (a principle that can unsurprisingly be applied to any industry).

However, should you be interested in earning Bitcoin online it may be worth considering some of the below options, ranging from the least difficult (and least paid!) to the more substantial roles available in the Bitcoin ecosystem.

While there are many ways you can make money with Bitcoin in the end there are no free meals. Earning Bitcoins online take time and money and most methods promising free Bitcoins will not be worth the time wasted on them.

How to Earn Bitcoin

Here’s a list of 12 different ways you can make money with Bitcoin (Various Cryptocurrency):

Micro Earnings

Although micro-earnings is the easiest method in which to earn Bitcoin, it is also probably the most time consuming of all the methods discussed, especially when taking into consideration the amount of money to be made. Micro earning websites pay you in Bitcoin for completing small tasks. In return you can get a (very) small amount of Bitcoin. The most popular micro earnings here… wad.Ojooo.com

Paid-to-Click Websites

As suggested by the name, these websites pay users in Bitcoin for visiting certain websites or viewing certain advertisements. There are many PTC websites that will pay negligible amounts in Bitcoin for clicks and views, with www.faucethub.io, www.btcclicks.com, www.donkeymails.com, www.moonbit.co.in probably being the most famous and the most popular. There website allows users to choose between viewing ads that are 5 seconds, 10 seconds or 20 seconds, with different fees being awarded for each. Based on the prices offered by Site, if you had 20 second ads running for an entire day, you would make less than $30.0 per day, so this may not be a viable option for most.

Bitcoin Faucets

A Bitcoin faucet is a type of website that gives away small amounts of Bitcoin to its users, with owners making money by placing ads on their website and pay individuals who visit the ads or complete surveys. This industry amounts of over 50% of the traffic on leading Bitcoin websites today. There are many Bitcoin Faucets that will 100% paying… www.freebitco.in, www.freedoge.co.in, www.faucethub.io, Faucets let visitors earn a percentage of the Bitcoin that they give away to any visitors that you brought in. This has resulted in users using a Bitcoin faucet rotator that allows users to quickly surf different faucets and earn a commission through rotation links for each faucet visited by you. However, similar to PTC websites, Bitcoin faucets are not a realistic way to earn good money, with even the best faucet rotators being applied still only enabling users to make no more than $200 per day.

Browser Plugin

Earning Bitcoin Just by using your Google Chrome or Mozilla Firefox browser. You can claim Satoshis from Bitcoin faucets. You can use your browser to help solve the hashes using your device's computing power through your web browser. Most paying and popular site is www.getcryptotab.com

Affiliate Marketing

If you take the writing route for Bitcoin and your blog or website is a success, there is potential to make money through Bitcoin affiliate marketing. This is a form of marketing where you can get paid a certain percentage of commission for every referral that you bring to an existing Bitcoin business. If the business operates an affiliate programme, and your blog is read by enough people who link to the business and purchase the product offered, then the commissions can potentially be unlimited, for minimal outlay other than the drafting of the original blog post.

Micro Jobs

Micro jobs are small tasks that can be completed for small amounts of Bitcoin. Websites such as www.coinworker.com offer such tasks, which may involve simply testing a plugin to see if it is successfully compatible with a browser, or just retweeting a post. Again, the money is small but there is potential to earn a little bit more than the faucets of PTC websites.

BitcoinTalk Signature Campaigns

The www.bitcointalk.org Forum Signature campaign pays for users to write posts on the BitcoinTalk forum which includes a product campaign in the signature. Payment levels depend on your membership level on the BitcoinTalk forum, with very little Bitcoin being available for users that aren’t a full member of the forum (to obtain full membership, you need at least 120 posts). Most campaigns also have certain requirements for posters, such as a minimum word limit or a requirement that no advertisements are directly included in posts. In addition, some campaigns may include a minimum and/or a maximum weekly post count.

The amount of money that can be made from these campaigns varies depending on the number of quality posts that you could make as a user that achieve the word count minimums. Depending on the campaign you may be able to make $50-100 for 24 hours of work, exclusive of the posts needed to obtain full membership to the forum. In addition, due to some campaigns operating only allowing for a maximum number of posts per week, there may not be sufficient income within a campaign to earn substantial amounts.

Lots of new Cryptocurrency companies also offer “Bounties” for performing other tasks, such as creating YouTube videos, blogging and posting on social media. You will earn differing amounts depending on how many followers you have so it can be useful to build your Facebook or Twitter accounts and participate in different campaigns. You will typically be paid after the ICO has taken place and receive some of the coin or token from the company you helped promote.

Writing for blog and news sites

It is at this point that the potential for making good money begins to rise, although the corresponding requirements for knowledge about Bitcoin also increase at the same time. There are an ever-increasing number of blogs and news sites that require dedicated writers to discuss Bitcoin and other Cryptocurrencies and, depending on your level of understanding about your subject, there are a virtual limitless number of options available to writers, with good quality writers being paid between $30-100 per 1,000 words. At this level writers can also choose their payment methods, whether it be in Bitcoin or in fiat currency. Websites such as www.coinality.com is a good place to start if you are looking to find jobs writing about Bitcoin online.

Bitcoin Lending

There are potentially significant earnings to be made in Bitcoin lending, but there is also significant risk. Bitcoin lending tends to operate through intermediary websites such as Bitbond and the concept is as simple as it sounds. You act as a bank, lending your Bitcoin to another person at a certain level of interest. Because the market is unregulated the levels of interest are generally much higher than the standard bank rate meaning that there is a potential for high returns. However, on the flip-side, the unregulated nature of the transaction means that in the event that the borrower does not pay back the Bitcoin to you, there is little recourse available for you to enforce the loan.

Bitcoin Mining

Early adherents to the Bitcoin industry have made significant fees through mining Bitcoin. Mining Bitcoin is the process by which new coins are created. Mining is carried out using certain computer programs and utilizes the processing power of the miner’s computer. At its inception, Bitcoin mining was relatively simple and the earliest miners were able to mine thousands and thousands of Bitcoin with limited expenditure.

However, at the same time, the value of Bitcoin was nowhere near where it was today and therefore any large profits being made from mining didn’t really begin to happen until a number of years after when the value of Bitcoin began to rise. Nowadays, Bitcoin mining is much harder. Each Bitcoin that is mined requires more processing power and therefore mining Bitcoin now involves significant processing power and can no longer be done without specialized equipment.

In addition, the costs of the electricity used to power this equipment is phenomenal, with Bitcoin mining currently estimating to be using the same power per day as a country the size of Morocco. Because of this, most Bitcoin mining has been taken over by companies who can make profit by scale based on buying large amounts of processing hardware at a discount as well as locating themselves in an area with extremely cheap electricity. For this reason, China is by far the largest Bitcoin mining country (mining over 60% of Bitcoin), followed by Georgia, Sweden and the US.

ZCash Mining
Monero Mining
Ethereum Mining
DigiByte Mining
Musicoin Mining

Dogecoin Cloud

Bitcoin Trading

There is huge potential to make money on trading in Bitcoin, but it takes a level of expertise and knowledge about the market in the same way that trading on any other financial market does. In addition, the Cryptocurrency market is extremely volatile and therefore may not suit everybody’s tastes and risk appetite. The first issue with trading is that almost all of the trading exchanges operate through Bitcoin or Ethereum, meaning that if you wish to trade in Cryptocurrency and don’t own any, you will probably need to own some (with some exceptions).

Websites such as www.coinbase.com or CEX both allow users to purchase Cryptocurrency by credit or debit card, or alternatively to purchase via a bank transfer. Once purchased, you can then transfer your Bitcoin to whichever exchange you wish to operate on.  If you wish to consider trading.

Day Trading and Trading Bots

Day trading is buying and selling Bitcoins on the same day on the basis of small, short-term price fluctuations in the market. Such fluctuations may be based on market trends or simply rumor’s. Traders can trade Bitcoin against other Cryptocurrencies or against fiat currencies such as the US Dollar.

The CryptoTrader bot is a cloud based trading bot and 3Commas is a very popular trading bot which works with a number of exchanges including Bittrex, BitFinex, Binance, Bitstamp, KuCoin, Poloniex, GDAX, Cryptopia, Huobi and YOBIT.

Running your own Bitcoin Trading bot is an advanced method which can produce good returns if done properly. We have written a complete guide to trading bots here which will show you the methods and advantages to earning bitcoin and other Cryptocurrencies this way. Here are some of the more popular platforms and bots to use:

Binary Options and Cryptohopper

Binary options (so-called because the only option is to win or to lose) is a trade strategy that allows you to predict if the price of Bitcoin will rise or fall in a certain period of time. If the rise or fall occurs within the set period, you will receive the payout agreed upon when entering into the option. If it does not occur, then you lose your investment.

We recently reviewed IQ Option which is the largest site for trading Binary options.

Cryptohopper is a cloud-based trading bot which means it can trade cryptocurrency 24 hours a day whether you are at your computer or not. The system allows you to trade on technical indicators, or subscribe to a signaler who sends buy signals. According to their website, they “are the first and only automated Crypto trading bot to integrate professional external signals.”

Although not exhaustive, these are some of the most popular ways in which you can earn income online. As noted at the outset, there is no such thing as free Bitcoin and something will have to be given in return, whether it’s time or expertise or both. However, with an ever-expanding market the demand for Bitcoin expertise and Bitcoin related products means that there has never been a better time to get involved in Bitcoin.

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